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The Free Money Advice Service has been setup by the government to provide impartial advice on most financial matters but is particularly good on Equity Release.
Equity Release is a minefield but a necessary minefield! Get it right and older people can raise money on their property - potentially allowing them to afford to stay in their homes for the rest of their lives. Get it wrong and they can accumulate an enormous debt and effectively disinherit their children as the finance company claims their home in order to repay the accumulated loan when they die. The link below may help you decide whether this might be a useful route to go down. However just as importantly consider using a financial adviser.
Equity Release is a minefield but a necessary minefield! Get it right and older people can raise money on their property - potentially allowing them to afford to stay in their homes for the rest of their lives. Get it wrong and they can accumulate an enormous debt and effectively disinherit their children as the finance company claims their home in order to repay the accumulated loan when they die. The link below may help you decide whether this might be a useful route to go down. However just as importantly consider using a financial adviser.
This is a simple AgeUK Equity Release calculator which will help you find out how much an equity release loan would allow you to raise on your house.
Independent Financial Advisers - IFAs Birmingham
Newstead Clark Financial Services Ltd
139 Hagley Rd, Birmingham B16 8UA, UK – 0121 452 1511
Great customer service and sound advice from Rob, backed up by his excellent administration team.
Rob has always been there for us giving excellent advice whenever we need it. Highly recommended by my partner and I
S.J Financial Solutions Ltd
185-187 High St, Birmingham B17 9QE, UK – 0121 448 0161
I engaged S. J. Financial Solutions to find me a good deal for a re-mortgage and I was very impressed with what they found for me. Stuart and his team always kept me informed, responded to queries quickly, and provided first class guidance and assistance. I really cannot fault they professionalism and diligence, along with the speed of the process. Thank you for a wholly seamless and painless transition from my old lender to my new one and with an excellently competitive rate. I am delighted.
The BEST Mortgage Brokers out there BY FAR! They are very reliable and highly efficient. One thing I would say about SJ Financial is that they always have the clients best interests at heart, and they will always find you the best product on the market to suit your needs. With their help ( especially Deb Wale!) we have been able to secure more time sensitive property deals allowing us to expand our buy-to-let portfolio which otherwise would have been next to impossible. Many thanks to the whole team at S J Financial
Click for excellent Money Saving Expert advice on choosing an Independent Financial Adviser (or IFA) around Birmingham.
This is a revolution! We are used to going to a bank with a business plan and been lent money on very high rates of interest - but only under increasingly demanding conditions. Crowd funding is the public investing directly to the businesses - at all stages of their development. Crucially there is a huge range of projects and Crowd Funders. You could do worse than just read and then click some of the WiKi link below.
Crowd Funding and Business Loans
ART Business Loans
Birmingham Science Park Aston Faraday Wharf, Holt St, Birmingham B7 4BB, UK – 0121 359 2444
Martin and the team are excellent sources of finance knowledge. very reliable and trustworthy
Under promised and over delivered
Lloyds Bank plc
Two Brindleyplace, Birmingham, West Midlands B1 2AB, UK – 0345 300 0000
Nice helpful staff
HSBC
168 Warstone Ln, Birmingham B18 6NP, UK – 0345 740 4404
Good fast friendly service. It's only a small branch with 2 people serving although the wait can be a little long sometimes they do a great job
Banks
Coutts
2 St Philip's Pl, Birmingham B3 2RB, UK – 0121 607 8033
Great and prestigious bank to bank with and there is always some one to speak to.
Unity Trust Bank
9 Brindley Pl, Birmingham B1 2HB, UK – 0345 140 1000
All the 1* reviews on here have no substance or explanation. I've been doing business with Unity Trust for years and am extremely happy with the service that they provide.
Excellent banking service for cooperatives, social enterprises, charities, trade unions, credit unions.
Al Rayan Bank Operational Headquaters
St James Court, 24-26 Calthorpe Rd, Birmingham B15 1RP, UK – 0800 408 6407
Done my work expierience at this place, even though i didnt do much here, i met some really cool people!! (Bilal)
V.good service
Building Societies
the West Brom - West Bromwich Building Society
160-162 High St, Birmingham B17 9PN, UK – 0345 241 7328
Pleasant staff, never had a problem
Lovely pleasant staff in here,
the West Brom - West Bromwich Building Society
28 Cape Hill, Smethwick B66 4PB, UK – 0345 241 7314
Amazing staff friendly service and quick service too
Leeds Building Society
33-35 Corporation St, Birmingham B2 4LS, UK – 0121 643 6722
Mortgage Brokers
Greenfield Finance
Bank House, 8 Cherry St, Birmingham B2 5AL, UK – 0121 270 6344
Green Filed Capital was able to provide a business bridging loan when my bank could not. Completed on time, at a better rate then other banks offered. Would recommend to any business wanting to expand
Mortgage Brokers In Birmingham
52 Vyse St, Birmingham B18 6HR, UK – 0121 551 7676
Mortgage Brokers - Key Questions
How much do mortgage brokers charge?
Typically, a broker will actually be paid around 0.35% of the mortgage loan as commission from your the lender. So, for every £100,000 borrowed, they would receive £700 in commission - if they are on commission. Many will therefore not charge for their advise if they are. However they maybe tied to specific companies and so may not be able to offer the best deal. Start with your bank. They will know you personally and financially - hopefully! They will tell you about their mortgages and you can use them as a base line to compare products found by mortgage brokers around Birmingham.
Is it better to get mortgage from bank or broker?
This question will be answered by this initial mortgage research. You may hit it lucky and find that your bank can give you the best deal - but do check with a mortgage broker first.
How do I find a good mortgage broker?
Don't write off the financial comparison websites. Moneysupermarket is full of good advise on how to find mortgage brokers and may even be able to point you around UniversityBirmingham that they particularly recommend - although will be on commission themselves! Click the link below to go the the right part of Moneysupermarket.
Are mortgage brokers worth it?
Probably yes and we are not on commission! You are free to the these ones a ring - it could really worth it.
Typically, a broker will actually be paid around 0.35% of the mortgage loan as commission from your the lender. So, for every £100,000 borrowed, they would receive £700 in commission - if they are on commission. Many will therefore not charge for their advise if they are. However they maybe tied to specific companies and so may not be able to offer the best deal. Start with your bank. They will know you personally and financially - hopefully! They will tell you about their mortgages and you can use them as a base line to compare products found by mortgage brokers around Birmingham.
Is it better to get mortgage from bank or broker?
This question will be answered by this initial mortgage research. You may hit it lucky and find that your bank can give you the best deal - but do check with a mortgage broker first.
How do I find a good mortgage broker?
Don't write off the financial comparison websites. Moneysupermarket is full of good advise on how to find mortgage brokers and may even be able to point you around UniversityBirmingham that they particularly recommend - although will be on commission themselves! Click the link below to go the the right part of Moneysupermarket.
Are mortgage brokers worth it?
Probably yes and we are not on commission! You are free to the these ones a ring - it could really worth it.
Mortgages
Coventry Building Society Birmingham City Centre
100 New St, Birmingham B2 4HS, UK – 0121 643 7165
The staff are very friendly and genuinely made me feel welcome.Unlike some other financial institutions.
Staff are always really friendly and plenty of them, ready to help
The Co-operative Bank - Birmingham
118/120 Colmore Row, Birmingham B3 3BA, UK
I have never had any problems. Always helpful and efficient.
I'm in Chatham, Kent. Great, friendly staff.
HH Mortgages & Protection
95-119 Spencer St, Birmingham B18 6DA, UK – 0345 163 0077